RepliCel Life Sciences Inc (TSXV:RP)
RepliCel is a regenerative medicine company developing autologous cell therapies that address diseases caused by a deficit of healthy cells required for normal healing and function.
Novo Nordisk (NYSE:NVO) will collaborate with Evotec SE (OTCPK:EVOTF) on the discovery and development of novel therapies for the treatment of chronic kidney disease (CKD).
The companies will jointly identify and develop new targets based on comprehensive medical and molecular datasets of thousands of CKD patients. They will share responsibilities during drug discovery and preclinical development, while Novo will be responsible for clinical development and commercialization.
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Novo will pay Evotec an upfront fee, research funding, up to €150M in milestones per product and tiered royalties on net sales. Additional financial terms remain confidential.
Eli Lilly (NYSE:LLY) and China alliance partner Innovent Biologics (OTCPK:IVBIY) have agreed to expand their partnership in cancer, initiated in March 2015.
The companies currently co-commercialize PD-1 inhibitor Tyvyt (sintilimab) in China for relapsed/refractory classic Hodgkin lymphoma patients who have received at least two prior lines of systemic therapy. Other indications, including non-squamous non-small cell lung cancer, are being investigated.
Under the terms of the expanded agreement, Lilly will have an exclusive license to commercialize Tyvyt ex-China. In exchange, it will pay Innovent $200M upfront, up to $825M in milestones and tiered double-digit royalties on net sales.
Both companies retain the right to study Tyvyt in combination with other drugs as part of their respective clinical programs.
Jiong Shao is out of the chief financial officer’s role at Sorrento Therapeutics (NASDAQ:SRNE), according to a company filing.
Shares are down 10.4% after hours.
Shao’s employment with the company “terminated in its entirety, effectively immediately” yesterday, according to today’s filing.
Today the company has named Najjam Asghar as its new CFO; he’ll take over the duties of principal financial officer and principal accounting officer. (He’s been chief accounting officer since June 2019).
The news of Shao’s termination comes closely on the heels of Sorrento’s battle with short seller Hindenburg Research, which cast doubt on the market potential of Sorrento’s COVID-19 saliva test.
That firm quotes a senior official at Columbia (from which Sorrento bought its test for just $5M and royalties) saying “It’s a complete joke. Columbia wasn’t under the assumption they were getting involved in a stock pump-and-dump.”
The FDA has approved Mylan’s (MYL -0.6%) generic version of Biogen’s (BIIB -0.3%) top seller Tecfidera (dimethyl fumarate).
The agency signed off on the application after a federal judge in West Virginia invalidated a patent on the multiple sclerosis drug. Biogen intends to appeal the decision.
Tecfidera accounted for 32% of Biogen’s Q2 revenue ($1,182M/3,682M).
A hearing is set for October 29 where Teva Pharmaceutical Industries (TEVA -13.8%) (through Cephalon) and AbbVie (ABBV -0.5%) unit Allergan (through Actavis) will face charges from the New York State Department of Financial Services (DFS) over their respective roles in the opioid epidemic.
The statement from Governor Cuomo alleges that each company “knowingly furthered false narratives to legitimize dangerously powerful opioid products” for pain management.
TEVA was already reeling from a U.S. Department of Justice lawsuit over $300M of alleged kickbacks to drive sales of MS drug Copaxone.
